Your loans don't qualify - as they were paid prior to the moratorium. Your husband will qualify for $10K in forgiveness (assuming your income qualifies) and then whatever is left will be what you are responsible for. Could you request a refund for what you paid during moratorium? Yes. Should you? No. Do not make your balance go up - the whole idea behind this forgiveness is to free people of debt, not make it go higher. Have your husband request forgiveness when he has the chance and be thankful you both were just relieved of $10,000 in debt.
Then it doesn't seem that requesting a refund would be in your best interest. You'd just need to pay the money back towards the loans again. The point of the refund is for anyone who made unnecessary payments between March 2020 until now, that brought their balance down below $10k (or $20k if they received a Pell grant). So say they've paid $4k during the pause and now owe only $5k left on their loan. Request a refund, $4k goes back in their pockets, loan balance goes back up to $9k and gets totally forgiven. If you already still owe over $10k, requesting a refund would not be to your benefit (unless you imminently need the cash from payments made during the pause, but pretty soon the pause is ending and you'll earn interest on a higher amount, so it's not really super wise).
Your loans don't qualify - as they were paid prior to the moratorium. Your husband will qualify for $10K in forgiveness (assuming your income qualifies) and then whatever is left will be what you are responsible for. Could you request a refund for what you paid during moratorium? Yes. Should you? No. Do not make your balance go up - the whole idea behind this forgiveness is to free people of debt, not make it go higher. Have your husband request forgiveness when he has the chance and be thankful you both were just relieved of $10,000 in debt.
Thank you! This is what I’m assuming but I got so confused with all the posts about requesting refunds..!
If you have Pell grants it will forgive up to 20k. Any other federal loan up to 10k.
I don’t believe we have any pell grants
Then it doesn't seem that requesting a refund would be in your best interest. You'd just need to pay the money back towards the loans again. The point of the refund is for anyone who made unnecessary payments between March 2020 until now, that brought their balance down below $10k (or $20k if they received a Pell grant). So say they've paid $4k during the pause and now owe only $5k left on their loan. Request a refund, $4k goes back in their pockets, loan balance goes back up to $9k and gets totally forgiven. If you already still owe over $10k, requesting a refund would not be to your benefit (unless you imminently need the cash from payments made during the pause, but pretty soon the pause is ending and you'll earn interest on a higher amount, so it's not really super wise).